You are very much correct I think. Our church just had a youth mission trip to the Beaumont/southeast Texas area to repair some houses which had been uninhabitable for TWO years. And this was the effect from Rita, not Katrina. They said that you would not believe how much devastation remains. Haven't been to the south Louisiana area, but I would figure that it is probably worse.
That being said, I would guess that it can only get better.
Looking for good news, any news about the share structure, acquisitions, etc. There's a big short on this I think, clothes or not and the float is small. Gonna be some big action here before long I think.